Financial Decision Making

Particular personality traits may have a powerful influence on a country’s economic outlook, according to new research. Across three studies, University of Toronto psychological scientist Jacob Hirsh found that populations that tend to have higher levels of extraversion are less likely to save for the future. Hirsh argues that understanding More

The economist Muhammad Yunus was awarded a Nobel Peace Prize in 2006 in recognition for his pioneering work in microlending – making small loans available to people living in poverty. Yunus believed that entrepreneurs in rural, impoverished areas needed the same things as any other business—capital to get their small More

Read about the latest research published in Psychological Science: Money Earlier or Later? Simple Heuristics Explain Intertemporal Choices Better Than Delay Discounting Does Keith M. Marzilli Ericson, John Myles White, David Laibson, and Jonathan D. Cohen People frequently make decisions that have both short- and long-term consequences. These decisions — called More